Amprius Technologies (NYSE:AMPX) Announces Earnings Results, Beats Expectations By $0.01 EPS

Amprius Technologies (NYSE:AMPX) posted its earnings results on Thursday. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01, Zacks reports. Amprius Technologies had a negative net margin of 245.92% and a negative return on equity of 71.39%.

Amprius Technologies Stock Performance

NYSE AMPX traded up $0.13 during mid-day trading on Thursday, reaching $2.33. 7,470,846 shares of the stock were exchanged, compared to its average volume of 1,926,032. The business’s 50 day moving average is $2.93 and its 200-day moving average is $2.10. Amprius Technologies has a 1 year low of $0.61 and a 1 year high of $4.21. The company has a market capitalization of $246.60 million, a P/E ratio of -5.18 and a beta of 2.56.

Insider Buying and Selling

In other Amprius Technologies news, CTO Constantin Ionel Stefan sold 9,066 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $3.13, for a total transaction of $28,376.58. Following the transaction, the chief technology officer now directly owns 421,489 shares of the company’s stock, valued at $1,319,260.57. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandra Wallach sold 18,142 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $3.13, for a total transaction of $56,784.46. Following the transaction, the chief financial officer now directly owns 678,000 shares in the company, valued at approximately $2,122,140. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,088 shares of company stock valued at $235,025. Corporate insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On Amprius Technologies

A hedge fund recently raised its stake in Amprius Technologies stock. Bank of America Corp DE lifted its holdings in Amprius Technologies, Inc. (NYSE:AMPX) by 31.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,890 shares of the company’s stock after buying an additional 3,055 shares during the period. Bank of America Corp DE’s holdings in Amprius Technologies were worth $36,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 5.04% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMPX shares. Northland Securities upped their price target on shares of Amprius Technologies from $4.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Cantor Fitzgerald started coverage on shares of Amprius Technologies in a research note on Tuesday, January 21st. They issued an “overweight” rating and a $10.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amprius Technologies presently has an average rating of “Buy” and a consensus price target of $9.29.

About Amprius Technologies

Amprius Technologies, Inc produces and sells ultra-high energy density lithium-ion batteries for mobility applications. The company offers silicon nanowire anode batteries. Its batteries are primarily used for existing and emerging aviation applications, including unmanned aerial systems, such as drones and high-altitude pseudo satellites.